Tamarac VA Loans

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A Tamarac FL VA home mortgage loan is a loan offered by private lenders that are backed by the VA department so that the process of obtaining a home loan can become easier for veterans. The actual money is lent by the mortgage companies themselves but the guarantees from the VA help them in finding reliable borrowers among the veterans.

Who is Qualified for a Tamarac FL VA Loan?

There are four kinds of people who can apply for Tamarac VA mortgages. These are:

• Veterans who have served with the U.S. military.
• Military men and woman which are on active duty.
• Member or reservists of the National Guard.
• Spouses of certain veterans that are now deceased.

Eligibility Requirements for Tamarac VA Loans

Not all veteran is eligible for a VA mortgage loan. In order qualify, veterans require:

• Sufficient and reliable credit history.
• A stable means of income.
• A valid Certificate of Eligibility (COE).

The guarantee by the department of Veterans Affairs mortgage in Tamarac FL is offered only when the house is for personal use of the borrower. However, the money can be used to purchase the home, build it or to make improvements in it, as per the requirements of the borrower.

Gathering a COE for Tamarac VA Home Loans

For the request of a COE, in-service members of the armed forces need to have fulfilled specific time durations of honorable service. On the contrary, the eligibility criteria for the spouses of veterans to obtain a home mortgage loan is slightly different. It includes:

• Spouses of veterans that are now deceased who have not remarried.
• Spouses of veterans who have gone missing in action or are POWs.
• Spouses who have remarried after reaching the age of 57.
• Spouses of vets who are alive but have been disabled during service.

If you think you might be eligible for a Tamarac Florida VA loancontact First Nationwide Lending at (877) 442-4023 for more information today!

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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